Severn Trent says trading in line with expectations

SarahTurner

LONDON (MarketWatch) -- Utility Severn Trent
SVT, +2.14%
said Tuesday that trading since Oct. 1 has been in line with expectations. Declining consumption across the measured income base has continued, driven principally by non-household customers. Fiscal-year revenue is expected to be negatively impacted by between 20 million pounds to 25 million pounds, up from a previous estimate of between 12 million pounds and 15 million pounds. Operating expenditure in fiscal 2009 remains on track, while gross capital expenditure is now expected at between 650 million pounds to 670 million pounds, down from a previous estimate of between 670 million pounds and 690 million pounds.

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